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Global Use of Rupee
October 7 , 2025
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- The Reserve Bank of India (RBI) allowed Indian banks to lend in rupees to non-residents from Bhutan, Nepal, and Sri Lanka for cross-border trade.
- RBI proposed transparent reference rates for major foreign currencies to promote rupee-based transactions.
- RBI permitted Special Rupee Vostro Account (SRVA) balances to be invested in corporate bonds and commercial papers.
- India's current account deficit was $2.4 billion or 0.2% of GDP in Q1 2025–26, down from $8.6 billion or 0.9% in Q1 2024–25.
- As of September 26, 2025, India’s foreign exchange reserves stood at $700.2 billion, covering over 11 months of imports.
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